DOWN PAYMENT ASSISTANCE PROGRAM FOR FHA LOANS

PROGRAM HIGHLIGHTS FOR FHA DOWN PAYMENT ASSISTANCE

  • Roll out date.  August 1st, 2009.
  • Down Payment and/or closing cost assistance in the form of a 2nd up to 3% of sales price.
  • CLTV up to 99.5%
  • 2nd loan is amortized over 15 years at a fixed interest rate of 8.25%.
  • FHA financing with LTV’s up to 96.5%.
  • NO first time home-buyer restrictions.
  • Conforming and Jumbo loan amounts.
  • Seller can pay all closing costs.
  • CA properties only.
  • FICO scores below 620, even NO fico score permitted for qualified buyers

Income restrictions:

Can make no more than 120% of HUD AMI (based on qualifying income). To find out what the county’s medium income is:  visit www.huduser.org/datasets/il.html .. Click- 2009 Income limits, Access Individual Income Limits, click state and county. Use the medium income number and multiply by 120%. Or Just give us a call and we will do it for you based on your situation.

Contact us for the best service and rates.

By Eddie Stokes California Mortgage 714-681-8209

See all in: Loan Programs

Call Brett Dalbeth
for Showings or more information
888-399-4844

Disclaimer

If a listing displays "Short Sale/Subject to Lender Approval" then that listing has been identified by the seller and the listing broker as a "short sale". This means that, at the listed price, the proceeds from the sale may not be adequate to pay all liens and costs of sale. Any offer made that does not fully cover the existing amount(s) owed to the lienholder(s) plus the costs of sale could be subject to lienholder approval, which approval may be exercised at the sole and exclusive discretion of the lienholder(s). The information being provided by SoCalMLS, CRISNet Regional MLS and/or CARETS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the SoCalMLS, CRISNet Regional MLS and/or CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by SoCalMLS, CRISNet Regional MLS and/or CARETS and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright SoCalMLS®, CRISNet Regional MLS®, CARETS®

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